Dan Snyder has a deal in place to sell the NFL’s Washington Commanders for the biggest price paid for a North American professional sports team.
A group led by Josh Harris and Mitchell Rales that includes Magic Johnson has an agreement in principle to buy the team for a record $6.05 billion, two people with knowledge of the situation told The Associated Press on Thursday.
The people confirmed the deal was a fully financed, nonexclusive agreement that was not yet signed. The people spoke on condition of anonymity because the deal hasn’t been finalized. Another person told The AP a deal hasn’t been sent to the NFL for approval yet. The league declined to comment.
Once the deal is approved, Harris would own controlling stakes in teams in three of the four major North American pro sports leagues. He and David Blitzer have owned the NBA’s Philadelphia 76ers since 2011 and the NHL’s New Jersey Devils since 2013.
Harris has owned a piece of the Pittsburgh Steelers, which he needs to sell before getting the Commanders.
The price for the Commanders tops the previous record of $4.65 billion set when Walmart heir Rob Walton’s group bought the Denver Broncos last year. Johnson, the basketball Hall of Famer who also owns part of Major League Baseball’s Los Angeles Dodgers, was also part of Harris’ bid for the Broncos.
Rales, co-founder of the Danaher Corp. and a Maryland resident, and Johnson were relatively late additions to the group. Rales and Harris grew up in Bethesda in the Washington suburbs and give the team local ownership roots.
The sale of the Commanders is pending the execution of a contract and then approval from the rest of the league’s owners, which could happen as soon as their next meeting in Minnesota in May but may take longer. It would need 24 of 32 votes to pass, which is not expected to be a problem after the Broncos sale was unanimously approved and given that Snyder was beginning to fall out of favor with the group.
Snyder bought his boyhood favorite team in 1999 for $750 million and despite mounting criticism repeatedly said he’d never sell. That changed after multiple investigations by the league and Congress into Washington’s workplace misconduct and potential improprieties. The congressional investigation found Snyder played a role in a toxic culture.
PATRIOTS: New England signed backup quarterback Trace McSorley, a four-year backup with plus mobility and previous stops in Baltimore and Arizona.
Over his career, he’s appeared in nine games and completed 51.6% of his passes for 502 yards, one touchdown and five interceptions. During his only career start, McSorley went 24 of 45 for 217 yards against the Buccaneers last Christmas. He stands at 6-foot and 202 pounds.
McSorley joins the Patriots as their new third-string quarterback behind Mac Jones and Bailey Zappe. McSorley entered the league as a sixth-round pick of the Ravens in 2019 following a decorated career at Penn State. In college, he played alongside new Patriots tight end Mike Gesicki, was voted a two-time captain and won the 2018 Fiesta Bowl.
RAVENS: Odell Beckham Jr. can’t make any promises about Lamar Jackson’s future, although his preference is obvious.
“The goal was to come here and have that possibility to play with him,” Beckham said. “I didn’t get any assurances for anything. Life’s uncertain. I think we don’t know what’s going to happen tomorrow, the next day. We only know what’s happened in the past.”
The Ravens acquired Beckham on a one-year deal worth up to $18 million including $15 million guaranteed. That agreement led to some obvious questions: Was this a sign that Beckham knew Jackson would be the quarterback in Baltimore this season? Or would the addition of the star wide receiver make it easier for the Ravens to keep their franchise quarterback?
There was even a screenshot on Instagram that appeared to be Jackson and Beckham on a video call.
“I don’t know if he called me, I called him or whatever,” Beckham said Thursday at his introductory news conference with the Ravens. “He just was excited about it, excited about the opportunity, the possibility.”
The Ravens used the franchise tag on Jackson, who then announced that he’d requested a trade in early March.
BUCCANEERS: Tampa Bay has no intentions of trading star linebacker Devin White, General Manager Jason Licht said Thursday.
The 25-year-old who helped Tampa Bay win the Super Bowl in his second season is seeking a long-term contract and entering the final year of the deal he signed as the fifth overall selection in the 2019 draft. The Bucs picked up the fifth-year option that’ll pays him $11.7 million in the upcoming season.
ESPN and NFL Network reported this week that White has requested a trade.
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